Quick US Mint Updates
There are a number of recent news items related to the US Mint that I wanted to briefly cover. These deal with two upcoming coin launch ceremonies, the 2011 Mint Set, and designs for the 2012 America the Beautiful Quarters.
Abraham Lincoln Presidential Dollar
The US Mint announced details for the coin launch ceremony for the 2010 Abraham Lincoln Presidential Dollar. The ceremony is scheduled to take place on November 18, 2010 at 10:00 AM ET. The location will be President Lincoln's Cottage on the grounds of the Armed Forces Retirement Home in Washington, DC.This ceremony may see more interest than typical due to the excitement about the release of the new Lincoln Dollar.
The ceremony will take place on the same day as the official circulation release date. As opposed to America the Beautiful Quarters, unmixed quantities of newly released Presidential Dollars have been more readily available at banks. Depository institutions are provided with time frames during which they can order boxes of $1,000 or bags of $2,000 of the most recently released Presidential Dollar.
The special ordering period for the Lincoln Presidential Dollar is October 28 to December 2. Collectors may want to inquire with some banks now to see if they will be ordering the coins, or even to request that they order a specific quantity of the coins.
Mount Hood National Forest Quarter
The launch ceremony for the Mount Hood National Forest Quarter will be held on November 17, 2010 at 10:30 AM PT. The location will be the World Forestry Center, 4033 SW Canyon Road, Portland, Oregon.The ceremony will take place two days after the official circulation release date on November 15.
This will represent the fifth release of the America the Beautiful Quarters Program and the final release for this year. Coins from this series have been more challenging to find through the channels of circulation, although some collectors have experienced success.
The US Mint will offer premium priced two roll sets and 100-coin bags of the quarters starting on November 15, 2010 at 12:00 Noon ET.
2011 United States Mint Set
CoinWorld has recently reported that the US Mint will stop using the satin finish for the annual Uncirculated Coin Set, also referred to by collectors as the Mint Set.
The satin finish has been used for the 2005 to 2010 Mint Sets, creating two distinct versions for Philadelphia and Denver Mint coins for these years. Each year, standard circulation strike coins were produced for circulation channels and numismatic bags and rolls, while satin finish coins were produced for the annual uncirculated coin set and some other collector products.
Reasons cited for the change were customer feedback and efforts to extend die life.
2012 America the Beautiful Quarters
The CFA and CCAC recently reviewed design candidates for the 2012 America the Beautiful Quarters.The five coins released that year will feature El Yunque National Forest in Puerto Rico, Chaco Culture National Historical Park in New Mexico, Acadia National Park in Maine, Hawaii Volcanoes National Park in Hawaii, and Denali National Park in Alaska.
Les Peters covered the Citizens Coinage Advisory Committee meeting for Coin Update News. Check out the article on the 2012 America the Beautiful Quarters for images of the design candidates and the comments and recommendations provided by the CCAC.
Labels: US Mint
posted by Mint News Blog @ 5:44 AM
41 Comments:
WOW!!! Some of the ATB quarter designs for 2012 look COOOOOOL!!!!!!!
I was hoping for a Springfield, Illinois release, similar to the several penny releases. Perhaps the mint and Director Moy are getting tired of traveling, perhaps getting too close to holiday season...
Any word on the 5oz coins?
No more satin finished coins; now that's a shocker. Any ideas on how that will effect demand for the existing 2005-2010 sets? These mintages include: 2005 (1.16M), 2006 (.847M), 2007 (.649M), 2008 (.745M), 2009 (.771M). These are fairly low mintages when compared to historical mint set trends. Satin finish coins could turn out to be a special series. Aesthetically pleasing, limited production years , and fairly low mintages. Looks like a winner.
So what finish are the upcoming ATB quarter sets (mint set and 3 coin sets) going to be in? I know only one 3 coin set is to be released this year. I can't believe the mint would make one set satin finish when the rest aren't going to be; for the sake of consistency.
The announcement regarding "No More Satin Finished Mint Sets" is unofficial since the U.S. Mint has not made a public announcement yet.
Hey pop pop boy, I took your advice
and shorted silver at $17.90. Now what should I do? Man you cost me big time.
Waiting List Notice: The number of orders we have taken meets the maximum limit for the 2010 American Eagle One Ounce Gold Proof Coin. You may still place an order for this product, which will go on a waiting list.
Silver is going to thirty by the end of the year. Why, QE2, China's export and production restrictions on Silver, the SLV ETF, and industrial demand (batteries, electronics, medicines).In addition, the SEC has stepped in to investigate the long time claims that JPMorgan and other major banks have been manipulating silver downward. This will end soon. So, Silver - Up, Up, Up.
A fiery metal market with the speed of light, a cloud of dust, and a hearty, hi ho, silver, away, its up 3% today.
Each year the HSN guys cried that this was the last year for satin finish coins. Looks like they were finally right.
HSBC and JPMorgan are among the largest players in the silver market, and they are accused of making hundreds of millions of dollars of illegal profit from violations of anti-monopoly rules. Both of the two suits, filed in the past 48 hours in New York, seek to become class actions, open to everyone who has traded silver, and are seeking damages potentially reaching into billions of dollars.
Yeah Buddy; Silver is gonna Rock!
Silver and gold are gonna rock?
I remember hearing that years ago. Then prices fell and folks lost a lot of money.
Of course gold and silver will go up in price with time. And so do the cost of homes, cars, food, etc. It's what you call inflation.
And the really smart investor will see what the annual and historical rates of return are. Long term (rather than get-rich quick) investors know that stocks are the best investment, long-term. Last year, my stocks went up about 30%. This year, about 16%. With the Dow above 11,000, it's near its all time high, before the markets crashed in 2008.
There's money in stocks. Precious metals are volatile. Timing the market is for those who love the thrill of gambling.
I need to have a 1955 double die Lincoln cent that I want to get authenticated. I realize that PCGS and NGC are popular on eBay. And I know the pros and cons of each.
But can anyone tell me about ANACS? Do you recommend them? Can they tell me if they will tell you if a coin has been cleaned, altered, etc.?
I'd use NGC. Solid for resale later. Nice holder (I think the new holders are nicer than the PCGS, although the PCGS is nicer than the older NGC holders). You may get PCGS labeling "genuine" even if the coin has never been doctored. ANAC now is not perceived as a first tier (note my word perceived) lately. The "First Strike" label has forever made me think PCGS is not as legit as it used to be.
Be very careful of submitting precious coins to PCGS. Please make sure you have high resolution photographs / images of the coin before submission. I have had horror experiences with FIVE (yes FIVE) gold commemoratives I sent in for grading which cam back to me cleaned and doctored after they were done with them. When I complained their response was "The coins meet or exceed our grading standards." BE VERY CAREFUL WITH PCGS.
If they stop the satin finish, how will we be able to tell the difference between the uncirculated and circulation ATB coin sets?
If they do stop the satin finish then the 2009 set should become very collectable with the Lincoln copper pennies in it.
It would be a shame to see the satins end even though the series will increase in demand. Is there any offical word from the mint?
Dows not near high (14000+) and Nas
high was 5200. Stock market is just
a bunch of gambling day traders.
As far as past data, this is a whole new world. If you want to
toss the dice on stocks,go for it.
October 30, 2010 7:12 AM - I submitted 6 Gold UNC Buffalos, 2 Proof Buffalos and 6 2009 High Reliefs.
4 UNC's came back MS69, 2 MS70. The UHR came back 5 MS69 and 1 MS70.
I had an excellent experience. I chat a lot with a couple very heavy hitter collectors in the rare numismatic market (I'm talking top of the pop), and they will ONLY buy PCGS for their collections.
I just noticed that I have a NMI silver proof quarter where the image of George Washington has a different frosted finish than that of the other quarters. The frosted finish resembles the way the proof quarters used to look before they started using the new dies that made the devices look grainy. You guys may want to check your sets for this.
On a separate note, I recently purchased a Jane Pierce First Spouse Gold Unc and had to return it to the mint because it had faint hairline scratches on the obverse. The scratches were to the right of Jane Pierce's portrait. I then purchased another one on ebay that was graded by PCGS, and it had the same hairline scratches in the same area and the pattern of the scratches were the same! So, I believe that all of them probably have this defect. Maybe the mint is doing something different with this coin that's causing these scratches.
Grading Company Pros & Cons
PCGS:
▲ Highest Resale Value.
▲ Strict Grading Standards.
▼ Handling Damage & Contamination.
▼ Holder Design.
▼ Grading Fees.
▼ Strict or Limited Die Varity and Error Attributions.
NGC:
▲ Handling & Contamination Control.
▲ Holder Design.
▲ Accommodating on Die Varity and Error Attributions.
▲ Slightly Looser Grading.
▼ Lower Resale Value - especially on moderns.
ANACS:
▲ Very Accommodating on Die Varity and Error Attributions.
▲ Handling & Contamination.
▲ Slightly Looser Grading.
▲ Low Cost Grading Fees.
▼ Holder Design.
▼ Resale.
I've noticed the highest priced recent Heritage Auction coins have been NGC graded.
I wonder is it too late to buy physical silver ? It seems too expensive already . I cannot beleive it did so well! It would have been a much better investment than any thing else i know of.
Anonymous at October 30, 2010 7:12 AM
Can you provide more information? How could the coins come back as cleaned? Are you saying that PCGS cleaned your coins?
-------------------
Anonymous said...
Be very careful of submitting precious coins to PCGS. Please make sure you have high resolution photographs / images of the coin before submission. I have had horror experiences with FIVE (yes FIVE) gold commemoratives I sent in for grading which cam back to me cleaned and doctored after they were done with them. When I complained their response was "The coins meet or exceed our grading standards." BE VERY CAREFUL WITH PCGS.
To: Anonymous at October 30, 2010 7:12 AM
Yes I do have detailed photographs. I did submit them to PCGS at each instance when I returned the coins a total of four times over several months of their processing. These problems eventually reached their CEO (Hall), and I received a very arrogant response from him at which point I retained the coins. I am planning to put together a narrative of this experience together with all of the back and forth e-mail I received from them, together with my notes on several phone calls with their staff. Then I will decide what to do. This happened about a year ago.
"Of course gold and silver will go up in price with time. And so do the cost of homes, cars, food, etc. It's what you call inflation."
Some years gold and silver go up faster than others. Over the past decade, the Fed has been running their printing presses overtime to cover our debt. Enter the current administration (basically the previous administration on steroids), and the dollar is taking a ride with the tidy-bowl man. The dollar will never be worth more (always less) because the number one priority of the Fed is to eliminate the possibility of deflation. Hence, gold and silver are a worthwhile investment of at least some of your financial portfolio as a hedge against uncontrollable money printing presses.
As for the guy with the high returns on his stocks, since the current administration took office the stock market has done reasonable well considering US production is in the tank. I find that rather suspicious, and essentially a house of cards waiting to fall. Sounds like someone (probably the current administration) is propping up the market (which would explain were a lot of unaccounted for TARP money went).
To above commenter. Yes, the gooberment has been dabbling in the stock market since Reagan started the PPT. I believe the PPT is on steroids now as most other gooberment operations. The PPT is the Plunge Protection Team.
Free markets are a thing of the past. The gooberment has its fingers in everything including metal price suppression which is on its last gasp because of the destruction of the dollar by excessive printing. Until we decide we no longer want goodies from the gooberment politicians will continue to spend. The democrats steal your money through taxes and give it to poor people, poor cities, unions, and to farm subsidies. Republicans steal your money through taxes and give it to banks, airlines, corporations, and to some degree farm subsidies and unions also.
2010 American Gold Eagle - 1 ounce has sold out.
25,000 sold. Now you have to be on a waiting list.
Personally, I think 25,000 is a high mintage. The value really will be based on the bullion value. If gold goes up, the coin's value will go up. If gold goes down, the price will go down.
It's not like it's a 2008 W Buffalo....
How long are the proof AGEs going to be on sale? Do people think they will be on sale after the new year? At this pace the fractionals will be taken off sale before a true sell out.
About those 2005-2010 "Satin" finish uncirculated sets: these ought to gain in value substantially in the coming years. Satins are a "must" coin type for anyone collecting coins by denomination. You must obtain each type of finish and year of production to have a "complete" set.
In addition, these sets represent a mini-complete but short lived variety set. Imagine how many sets were broken apart by TV marketers and large coin houses. Based on published mintage figures, these sets will be a super acquistion by those with a bit of vision. For those who attach special value in unopened and Mint sealed outer cartons.....go for it! (Yup, you guessed it, my holdings include 50 sets of each year which have never been opened as is my collecting custom since 1958. The grand kids are going to have a field day in the future.) ~ Grandpa
Congrats I wish I could afford to do that. Your grandkids are going to be very lucky.
I also have been putting away complete satin sets.
IMHO the low mintage makes the Lincoln copper '09 set very important for any penny collector. It is sure to increase in value and collectabilty.
I am planning to put together a danco book to keep a complete satin set, keep some as 2005-2010 mint sets and break apart some for my coin books so they will be complete.
Even though doing away with the satin finish will make my sets more collectable, I hope the mint doesn't discontinue the satin finish. I'll just have to wait till there is official news. Untill then it's just like believing those late night coin merchants when they reported it.
Time will tell if a particular mint set will be in demand.
I recently bought a 1980 mint set with the 1980 S Susan B. Anthony dollar for just $5. Who would have thought it would be so cheap?
And I bought a 1996 mint set with the 1996 W Roosovelt dime for under $20. Who would have thought it would be so cheap more than a decade later?
Modern Mint sets don't really seem to appreciate in the long-term. Some years have seen short-term appreciation after sell-out (a real one that is unexpected, not an arbitrary sales end-date), but they too never hold up. Just look at what happened to the 2004 set. It used to command over $70 sealed in the box, but now goes for about half of that.
I don't believe the 2005, 2006 or 2007 sets will ever be worth any more than they are right now, and 2007 even has lots of room to depreciate. 2008 has seen some success, but will most likely suffer the same fate as 2004. Even the 2009 set will most likely sink too. How many folks really put together sets of just Lincoln cents these days? Even if they do, unless those silly little coin folders actually have slots for the "2009 95% copper satin finish" coin, will anyone really worry or care about it?
No, Mint sets are pretty much secondary market losers. Go for the gold and silver coins instead. At least they are always worth something, most likely more than their face value. I've seen 2005 Mint sets sell so cheap, the face value of the coins themselves was higher than the price the seller got! It's ridiculous!
"How many folks really put together sets of just Lincoln cents these days? Even if they do, unless those silly little coin folders actually have slots for the "2009 95% copper satin finish" coin, will anyone really worry or care about it?"
Well not necessarily "these days".
But when new folders(and public awareness) increases there will be more demand. These things do take time.
In let's say 10 years from now when there are no more cents being minted for public circulation and only for collectors(like Kennedy halves) one must ask, why didn't I buy more?!! Like those who only kept a couple(or none) of 1909 vdb back then. I'm just sayin'...
Really enjoy the 2012 ATB quarters. My hopes are up for this series. I like much, much better than the State Quarters. These are much more beautiful. Especially the ones that feature wild life.
I'll just be happy when the 5 oz. silver versions FINALLY go on sale! I was ready to buy them when silver was $18/oz. last summer. Now each coin has about $32.50 more silver value than they did then. It will really increase the price of a monster box! Yes, I plan to buy a monster box. I just hate having to pay so much more for it simply because of all the feet-dragging. You can't tell me there is a good reason why they have not gone on sale yet.
Grandpa,
Sorry to burst your bubble, but not sure why you would buy 50 sets/year unless you have a really big family (or made a typo). If you took the money every year and bought CDs or put it in the stock market you'd be way ahead of where you are now.
You could buy "pre-owned" sets with the money you would have and have extra for retirement/ grandkid's college fund etc.
Where do you store your stuff? I collect only 4 sets/year for the past 40 years and storage is somewhat problematic.
The mint has added the Last Opportunity section back to the website with spouse and proof sets.
Yeah, I saw the "Last Opportunity" section was back, too. I also noticed that strangely absent from the list are the 2009 Presidential Dollar coin covers. It's starting to look like those silly things will languish in the catalog for years, just like a lot of the 50 State Quarter covers did! They're still quite a ways off from selling their stated maximum production of 40,000 units each. Why doesn't the Mint just put them out of their misery already?
Yeah, Grandpa must have a lot of money and storage space (or maybe he rents a public storage unit). I just thank God I sold off all but 2 of the 100 units of 2005 Mint Sets I bought then. I was sure that "Buffalo" nickel would make those forever desirable. Back then they were selling for $25 a set! One just ended on eBay recently that barely cleared $3. The face value of the coins is $5.92! Plus, eBay takes 9% of the paltry sales price and PayPal takes another 2.9% plus .30 cents.
It looks like I might just open and spend the last two 2005 sets and eight or so 2006 sets I have left. I'd rather do that than PAY someone to take them (which is effectively what those cheap eBay auctions amount to.)
And what gives with those Coin & First Spouse Medal sets? The 2007's still sell for a ton, and the 2008's still sell for respectable prices despite NEVER having any published sales figures. However, the sold out 2009's (which have much lower sales numbers than the 2007's) you can hardly give away. There never seems to be a shortage of the 2009's being offered for sale on eBay, so do you think the Mint has been dropping the last "0" from the reported sales figures? I could see the lack of interest if around 100,000 units had been sold, but not around 10,000. Something doesn't make sense. There's still interest in the series, or else the 2007's and 2008's wouldn't be selling.
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